Mortgage applications in Hong Kong decrease in April
The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2017.
The number of mortgage applications in April decreased month-on-month by 16.5% to 13,027.
Mortgage loans approved in April decreased by 13.6% compared with March to HK$31.9 billion. Among these, mortgage loans financing primary market transactions decreased by 17.8% to HK$6.2 billion and those financing secondary market transactions decreased by 8.9% to HK$17.3 billion. Mortgage loans for refinancing decreased by 19.3% to HK$8.4 billion.
Mortgage loans drawn down during April decreased by 15% compared with March to HK$21.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.1% in March to 94% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.2% in March to 2.1% in April.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,142.2 billion at end-April.
The mortgage delinquency ratio decreased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: Hong Kong Monetary Authority